Its signature Big Mac sandwich has been selling for over 50 years, but McDonald's (NYSE: MCD) is hoping that's just the start. The fast-food giant just announced an ambitious new growth plan for the next several years as part of its annual shareholder update.

The strategy involves McDonald's doubling down on effective initiatives like new restaurant launches and its popular drive-thru business. Executives believe they can also boost profitability well above the current record level. Here's what this plan could mean for investors.

McDonald's management team thinks there's plenty of room to expand the sales footprint from here. Its growth plan calls for boosting the global restaurant base by about 10,000, in fact, to 50,000 units over the next three years. About 2,000 new stores can fit in the U.S. market between now and 2027, executives project, with the remainder launching in big international markets like China.

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Source Fool.com